Dalata Hotel directors help fund new hotels

Dalata Hotel Group’s directors have increased their stake in the company as the company raised funds for further expansion.

Seven directors and the company secretary all stumped up cash in the open offer which was announced in September and approved at Monday's AGM.

At the time the company said the issue was expected to raise €160m and the proceeds would predominantly be used to finance more hotel acquisitions, development capital expenditure on existing assets, and new builds.

Chief executive Pat McCann back his team by purchasing the largest amount of the team – 140,000 shares totalling £387,856.

Anglo American’s directors also picked up a stake in the company, but not to back any company expansion.

Five directors all took home a share package in lieu of directors fees.

Top Director Buys

Dalata Hotel Group (DAL)

Director name: Mr Pat McCann

Amount purchased: 140,000 @ 277.04p

Value: £387,856

Dalata Hotel Group (DAL)

Director name: Mr Dermot Crowley

Amount purchased: 64,000 @ 277.04p

Value: £177,306

Dalata Hotel Group (DAL)

Director name: Mr John Hennessy

Amount purchased: 43,000 @ 277.04p

Value: £119,127

Dalata Hotel Group (DAL)

Director name: Mr Stephen McNally

Amount purchased: 42,666 @ 277.04p

Value: £118,202

Dalata Hotel Group (DAL)

Director name: Ms Margaret Sweeney

Amount purchased: 22,242 @ 277.04p

Value: £61,619

Dalata Hotel Group (DAL)

Director name: Mr Robert Dix

Amount purchased: 19,676 @ 277.04p

Value: £54,510

Dalata Hotel Group (DAL)

Director name: Mr Alf Smiddy

Amount purchased: 17,774 @ 277.04p

Value: £49,241

Belvoir Lettings (BLV)

Director name: Mr Mike Goddard

Amount purchased: 40,000 @ 121.25p

Value: £48,500

Anglo American (AAL)

Director name: Mr Phuthuma F. Nhleko

Amount purchased: 2,065 @ 578.80p

Value: £11,952

Anglo American (AAL)

Director name: Mr Jim Rutherford

Amount purchased: 2,020 @ 578.80p

Value: £11,692

There were no director sells at the time of publication